I require conveyancing for a flat in a fairly new development (6 years built) in Lyndhurst. Almost all the appartments are already disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Lyndhurst?
A big part of the Lyndhurst conveyancing process is the conveyancing searches. There are hundreds search providers who offer Lyndhurst conveyancing searches, as well straight from the local authority. These are generally termed personal search providers and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authority.
Why do I have to pay up front for my conveyancing in Lyndhurst?
If you are buying a property in Lyndhurst your solicitor will request that you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the total price then this will be needed immediately in advance of exchange of contracts. The closing balance that is needed should be sent to your lawyer shortly before completion.
We are selling our house in Lyndhurst and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street Lyndhurst lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a national conveyancing practice rather than a conveyancing solicitor in Lyndhurst. We have lived in Lyndhurst for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Lyndhurst I like with amenity areas and transport links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Lyndhurst suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I am a negotiator for a reputable estate agent office in Lyndhurst where we see a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Lyndhurst conveyancing firms. Please can you confirm whether the vendor of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a ground floor flat in Lyndhurst, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Lyndhurst with an extended lease are worth £265,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2098
With just 75 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
How much will conveyancing in Lyndhurst cost?
The total sum charged for Lyndhurst conveyancing fees are likely to be calculated at:
- a set cost; or
- on a time spent basis (i.e. the time spent on the particular case).
These days very few Lyndhurst conveyancing practices charge by the clock